Bitcoin Approaches $120K as Markets React to Trump-EU Tariff Relief
Bitcoin edged closer to the $120,000 mark on Monday, buoyed by renewed investor confidence following U.S. President Donald Trump’s announcement of a tariff agreement with the European Union. The deal reduces proposed duties from 30% to 15%, signaling a potential easing of macroeconomic headwinds and sparking a broad-based risk rally.
BTC climbed to $118,455 — its highest level in nearly two weeks — narrowing the gap to its all-time high by less than 5%. Equity markets also welcomed the news, with S&P 500 futures rising 0.3% and Dow futures gaining 180 points.
“Bitcoin’s rebound to $119K came despite concerns of a potential selloff, triggered by large transfers from dormant BTC wallets,” said Nassar Al Achkar, CoinW’s Chief Strategy Officer. “Still, institutional participation remains firm, reinforcing demand amid elevated stock valuations.”
ETH Pushes Toward $4K as Capital Rotates Into Majors
Ethereum rose 3.7% in the past 24 hours to reach $3,932, approaching the $4,000 resistance area for the first time since December. Institutional appetite for ETH continues to grow, with public firms like SharpLink allocating ETH to their balance sheets.
Historically, Ethereum has outperformed Bitcoin in the aftermath of major BTC rallies — a trend some traders believe is starting to re-emerge.
XRP added 2% to $3.30, maintaining its recovery amid fresh ETF buzz and price volatility. Among other large caps, Binance Coin (BNB) posted the strongest performance, climbing 6.3%. Dogecoin advanced 2% to $0.24, pushing its weekly gain close to 9%, while Solana (SOL) and Cardano (ADA) recorded modest gains, holding above $190 and $0.85, respectively.
Institutional Adoption Marks Structural Shift in Crypto Markets
July has become a breakout month for institutional crypto adoption. Capital raising activity around crypto treasuries is accelerating, and traditional banks are racing to roll out digital asset services.
“Crypto markets aren’t just rallying — they’re undergoing a structural transformation,” said Jeff Mei, COO at BTSE. “The passage of the GENIUS Act and the market’s climb past a $4 trillion valuation have triggered a wave of public market fundraising tied directly to crypto strategy.”
Mei also noted that financial institutions are shifting from exploration to execution as client demand forces faster product rollouts.
Looking Ahead: Fed Policy, Earnings, and Trump’s Next Deadline
While momentum remains strong, traders are closely watching macro triggers. The upcoming Federal Reserve meeting, Q2 earnings reports, and inflation prints could sway sentiment. Trump’s August 1 tariff deadline also looms as a key geopolitical risk.
An earlier-than-expected rate cut from the Fed could provide additional upside for both crypto and equities, but market volatility is likely to remain elevated in the near term.
